Almost 500000 Ram Trucks Recalled Due to Fire Risk


FCA Statement: Seat Belt

(NYSE:FCAU) last issued its quarterly earnings results on Thursday, July 27th. The business had revenue of $27.93 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter a year ago, the company earned $0.45 earnings per share.

A number of brokerages have commented on FCAU. The water-pump malfunction could set off a warning light, and anxious consumers should let their dealers know if they notice the signal, the company said. Wells Fargo & Company MN raised its stake in shares of Fiat Chrysler Automobiles 13.8% in the first quarter. Finally, Morgan Stanley reissued an "overweight" rating and issued a $14.00 price objective on shares of Fiat Chrysler Automobiles a research note on Monday, July 17th. On average, analysts predict that Fiat Chrysler Automobiles N.V. will post $2.62 EPS for the current fiscal year. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of "Buy" and an average target price of $15.41.

The auto company said it no longer uses the water-pumps in question and no other vehicles are being recalled at this time. The company operates through six segments: NAFTA, LATAM, APAC, EMEA, Maserati, and Components.

Fiat Chrysler announced the recall of almost half a million Dodge Ram trucks due to the possibility that a water-pump bearing could overheat and catch fire.

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